Before the economic development, The United Arab Emirates (UAE) was one of the least developed countries of the world. However, at present it has achieved a level of income comparable to that of the most economically developed and industrialized nations. Oil revenues have allowed the country to leap various stages of development and focus on mass consumption which resulted in saving and capital accumulation necessary for its economic development. The country’s authorities has successfully implemented a human development policy, starting from the early 1970s, leading to a long-term economic development in the UAE which followed by industrialization, urbanization and modernization.

UAE is not a territory that is dependent on another country or governing body, meaning that it is also not a subject to EU regulation. UAE is not a member of the Organization for Economic Cooperation and Development (OECD) and does not partake in the foreign automatic exchange of information. It is famous for its modern offshore legislation which allows a complete foreign ownership with no requirement to have a local partner while doing business on the UAE territory. It also has efficient and up-to-date communication means which makes all the business activities easily done in a short time frames.

UAE free trade zone authorities UAE has two main offshore authorities, one of which is located in the Jebel Ali Free Zone (JAFZA) and the other in Ras Al Khaimah (RAK) and one more jurisdiction called Ajman Freezone (AFZA) which is a free trade zone in Ajman and of seven emirates in the United Arab Emirates. They were known for the ship building and commercial activities in the maritime sector for the past decades. However, today they are now better for their industrial sector. These are referred to international business companies that conduct business internationally, providing businessmen opportunities to own real estate in the UAE which can be further used as a trading vehicle as well as to maintain bank accounts and other useful commercial options for doing business on a global scale.

These offshore authorities offer rather competitive prices, business transparency together with clients’ private data protection via secured systems and also a dedicated manager available throughout the year. One more feature is that Company registration in UAE offshore authorities normally takes about 2 days to be completed which is one more attractive feature for all the business people worldwide.

Advantages of UAE company In general there are various advantages which can be related to UAE offshore companies due to which they have a good reputation throughout the decades, especially in past 20-30 years when UAE and its companies has become a global business spot, while not having a tax haven stigma attached to them. UAE offshore company offshore is also referred to as an international Business Company or a non-resident Company. First of all these are anonymity, privacy protection, absence of auditing, absence of accounting or reporting requirements, absence of requirement to deposit the capital in the bank, absence of minimum capital requirement. Additionally there is a complete tax and duty exemption and complete foreign ownership permission available. All the nominee services are carried out through lawyers and one more additional bonus is that the established offshore company can own real estate properties in UAE.

UAE companies conduct stringent international due diligence checks to ensure an appropriate level of protection, having strict risk control procedures in place to prevent any unregulated or undesirable elements while making business deals. These are the conditions suitable for businessmen and entrepreneurs doing commerce over the Internet, wide range of traders, expatriates, consultants and counsellors, holding intellectual property rights for the custody of real estate or for inheritance purposes.